Retrenched Edcon staff’s provident fund payment delayed
Delayed retrenchment pay-out worsens financial struggle for former Edcon staff.
Retrenched Edcon staff who were expecting their provident fund claims disbursement at the end of November face further hardship, having received last-minute letters telling them their pay-out has been postponed to the end of January 2021.
Workers were retrenched by the retail giant in August and with no income since their retrenchment packages were paid out at the end of August, some say they are facing eviction from their homes and other financial difficulties.
Speaking to Cape Argus in Cape Town, former employee Corlene Smith said they had expected to be waiting for 12 weeks, but still had not received any funds.
Edcon Fund Administrators – in an email to workers on 28 November – said they would be paying claims later than the initially communicated period due to amendments to the retirement funds default legislation, which required mandatory system upgrades and compliance